Bank May Need To 'Create A Recession' To Halt Inflation, Says Adviser To Chancellor
The Independent|June 22, 2023
The Bank of England might need to spark a recession to get inflation under control, an adviser to the chancellor Jeremy Hunt warned yesterday amid a slew of grim economic data including government borrowing surpassing 100 per cent of GDP for the first time since 1961
ALASTAIR JAMIESON
Bank May Need To 'Create A Recession' To Halt Inflation, Says Adviser To Chancellor

Karen Ward, an economist with JP Morgan, said that inflation might persist because of a price-wage spiral, where companies hike prices and workers demand pay rises. “The difficulty for the Bank of England – I mean, no one envies them their job at the moment – is they have to therefore create a recession,” Ms Ward, who sits on the Chancellor’s economic advisory council, told BBC Radio 4.

この記事は The Independent の June 22, 2023 版に掲載されています。

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この記事は The Independent の June 22, 2023 版に掲載されています。

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